Traverse City Record-Eagle

Real Estate News

May 10, 2012

Fancy Rentals Where You Can Live the Good Life

Syndicated — Say "rental." The word conjures some pretty scary images: A sixth-floor walk-up, a basement mother-in-law or some other way-less-than-upscale unit carpeted with worn out wall-to-wall shag. We've all been there, done that.

But there is another level of rental properties that is nothing short of top shelf. These rentals are the creme de la creme of real estate, compete with huge footprints, stunning views, indoor pools and blowout gourmet kitchens that let you know you're not in Kansas - or an apartment complex - anymore.

The best part is, you don't have to worry if the roof is leaking, because you're a renter, not an owner!

247 Central Park W, New York, NY (below)

For Rent: $110,000/month

Manhattan is known for its pricey real estate but this place is in a league of its own. Sitting directly on Central Park West, this grandly-scaled contemporary mansion boasts over 12,000-square feet. The mammoth home is spread over six levels plus a finished basement. It is studded with 5 bedrooms and 8 bathrooms as well as a master suite that occupies an entire floor. According to property history, the home sold for $22,375,000 in January 2012. According to mortgage calculations, the monthly rent of $110,000 will just cover the home's estimated monthly mortgage payment of $104,772, assuming a 20 percent down payment on a 30-year-mortgage.

214 Lafayette Street House, New York, NY (below)

For Rent: $100,000/month

A property with celebrity history usually enjoys a little uptick in price, as shown in this swanky pad, previously used for Beyonce's "Halo" music video. Available for $100K per month, the 5-story, loft-style home is touted as New York's "most incredible, unique rental property," Built as a legal live/work environment, the home also includes diva-worthy features such as a master suite with a sitting room, and "sun-filled" bathroom, indoor pool, 925-square-foot terrace, 19-foot ceilings, motorized movie screen, and industrial-sized kitchen.

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